Of course there is partying. However partying is not a 7 days a week affair for any student who wants to graduate and the general culture at those schools seems to support a “work hard play hard” sort of ethic.
No one is partying at the expense of studying and staying in college, and the very low dropout rate and high 4-5 year grad rate at those schools speaks to that culture.
Party on weekends, sure. But not when you have exams and papers due, and generally not during the week. Anyone can find exceptions to that, but I am stating what i see as the general rule.